Zora is one of a number of companies leading the growth of pro-creator platforms in the Web3 space with its Ethereum-based NFT marketplace. The company was founded in 2020 as NFTs began to dominate headlines, and swiftly raised major funding as a potential competitor to the incumbent leader in this space, OpenSea.
Though its rival OpenSea is the undisputed leader in the NFT marketplace, a number of growing pains and controversies have led to a demand for more decentralized avenues.
Zora has moved swiftly to take advantage of the growing pains and controversies plaguing its rival, quickly gaining a customer base of individuals and companies looking for alternatives. One of Zora's major strengths is that the marketplace protocol that it creates is also used by a number of third-party sites. In essence, Zora is both a sales platform and a SaaS for other businesses.
While the future of NFTs is difficult to predict given the extreme volatility the sector has experienced since 2022, Zora looks well-positioned to thrive as long as the market does. That being said, it is branching out into the AI space, under the understanding that there is a crossover market between the aforementioned and crypto.
Freddie
Company Specialist at Welcome to the Jungle
